Gold, silver prices dip briefly; experts flag further rise
HYDERABAD: Gold and silver prices, which had surged sharply in recent days, have seen a temporary correction, offering brief relief to consumers. Market experts, however, said the dip is short-lived and prices are likely to climb further in the coming weeks.
Business analysts have been maintaining that gold prices will continue to rise, and the trend has broadly played out as expected. The price of 10 grams of gold has already crossed ₹1.5 lakh in recent weeks, while silver prices are hovering close to ₹3.5 lakh per kg. Traders said prices could rise further by March, advising buyers to consider purchases now.
Multiple factors driving prices
Experts said there is little indication of a sustained decline in prices. Additional tariffs imposed by US President Donald Trump on several countries are influencing gold and silver markets. International price volatility, inflationary pressures, the rupee’s depreciation against the dollar, and global economic slowdown are also contributing to sharp price movements.
Silver prices are at their highest levels so far, while gold’s continued rise has disappointed both investors and jewellery buyers. Traders said prices could climb further by Ugadi.
Festive demand adds pressure
The Magha month begins in February, a period marked by weddings and other auspicious events, traditionally boosting demand for gold and silver. This is also expected to support higher prices.
In the latest correction, gold and silver prices eased after several days of gains. In the Hyderabad bullion market, the price of 22-carat gold fell by ₹2,100 to ₹1,41,450 per 10 grams. The price of 24-carat gold declined by ₹2,290 to ₹1,54,310 per 10 grams. Silver prices dropped sharply by ₹5,000 per kg to ₹3,39,900.
Similar rates are expected across the Telugu states. Prices are also largely unchanged in Chennai and Vijayawada, while Mumbai is quoting silver at a lower ₹3,24,900 per kg.
